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Britannia to spend Rs 1000 cr at Ranjangaon plant

Press Trust of India  |  Kolkata 

Leading FMCG company will invest Rs 1000 crore at its proposed largest plant at the Ranjangaon food park in Maharashtra, a company official said.

"There will be an investment of Rs 1000 crore at the Ranjangaon food park over a period of four to five years with an employment potential for 3000 people", MD of Varun Berry told reporters after the company's AGM here today.

The plant would have six biscuit lines, and one each for rusk and croissant, he said, adding that plans were there for a flour mill and a dairy unit also.

The company would make a capital expenditure of Rs 400 crore in the current fiscal, he said.

Britannia was already having 98 acres there and another 48 acres would be added, Berry said.

Besides, Britannia would set up its first greenfield unit in Nepal, he said, besides commissioning two plants one each at Mundra and Guwahati.

Post completion of all the plants, total biscuit manufacturing capacity would be 13 lakh per annum.

Earlier at the AGM, chairman of Nusli Wadia said that the JV with Greek company Chipita would come up at the food park and be commissioned in June 2018.

He said that the company had been to gain market share year-on-year making it the leader in the country.

Wadia said the main focus of the company would be cost saving and product innovation. He said that the company would go for consolidation of its brands in its portfolio.

He said that despite being a tough year due to demonetisation, the company performed well.

On GST, he said there was no impact on the company.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, August 07 2017. 17:57 IST